MHR 322 EXAM #2 2026/2027 – STUDY GUIDE, PRACTICE QUESTIONS,
EXAM REVIEW & TEST PREP
Customer is often made up of: - ANS ✔✔Champion
Primary Economic Buyer
Influencers, Veto Power
Primary and Secondary Influencers - ANS ✔✔- Bell Cow Customer (Leader of the Consumers)
- Lighthouse Customer
Bose 901 Speaker Example - ANS ✔✔-Viewed their market as one key individual (Critic) and ran an ad to
change his mind about the product
5 ways to win referrals from influencers - ANS ✔✔Build Referral Relationships
Gather a Group of VIPs
Target Professional Reviews
Get Online Referrals
Arm Influencers with Selling Tools
(Kim Gordon - Big Marketing Ideas for Small Budgets)
Consumers with Veto Power - ANS ✔✔IT Department
US Gov't Healthcare
Any time a standard exists
Customer Motivations - ANS ✔✔- Lower costs or reimbursed expense
- Don't get fired for taking risk
- Less work/easier job
- Justify job/look good in front of boss
Product Acquisition Process - ANS ✔✔- A primary goal of a startup is to discover how customers can be
systematically acquired
- The customer acquisition process is key to understanding the lifetime value of a customer
Crawl/Walk/Run Strategy - ANS ✔✔-DBE describes the process designed to discover a sales process that
can be standardized
-Sometimes it is necessary to build a product by working with customer using an inefficient sales strategy
(crawl, then walk) before you can pursue a standardized sales process
Ways to Test Marketing Strategies - ANS ✔✔- Set up a website
- buy ads
- set up a kickstarter campaign
- track analytics
Facebook Marketing - Weinert Center Ex: - ANS ✔✔Primary Goal: Increase the # of UW Students who
visit the website
Secondary Goal: Increase the # of UW students who have heard of the Weinert Center
, '
What is a business model according to DBE? - ANS ✔✔"A framework by which you extract from your
customers some portion of the value your product creates for them" (DBE)
"The rationale of how an organization creates, delivers, and captures value" (Business Model
Generation"
Business Model Canvas by Osterwalder (like MHR 424 Bus. Model) - ANS ✔✔- Focuses on key
components of Business Model
- Hypothesis driven
- Easily changeable (Post-it Notes)
- Can color code different customer segments (9 building blocks)
Using BMC and DBE - ANS ✔✔- The Business Model Canvas is a snapshot that changes over time as you
learn
- DBE is a process that you can follow to learn and refine your BMC
Customer Segment (1st thing) - ANS ✔✔Who you are going to sell to, and what defines that segment of
people
Value Proposition (2nd thing) - ANS ✔✔What is the reason the customer will by the product, what will it
do for them?
Channels - ANS ✔✔How does your customer get your product? (online, app store, retail store, etc.)
Customer Relationship - ANS ✔✔The overall process of building and maintaining profitable customer
relationships by delivering superior customer value and satisfaction (answering questions and solving
problems)
Revenue Streams - ANS ✔✔How do you get paid?
- Best businesses have multiple revenue streams
(EX: Car -- repairs, plus parts needed)
Key Resources - ANS ✔✔What are you really good at?
- What sets you apart from the others
Key Partners - ANS ✔✔-Suppliers and Investors that help your business grow
Cost Structure - ANS ✔✔- What are the most important costs of your business?
- Fixed Costs, Variable Costs, etc. (Labor vs Sales)
Benefits of Using Business Model Canvas - ANS ✔✔- Consistent Logic
- Less likely to miss a key gap
- Easily changes when new learning demands a pivot
- Used to generate financial model
- Easy to use framework means more time to get out of the office and talk with customers
- Has become a bit of an "industry standard" so makes for efficient communication
EXAM REVIEW & TEST PREP
Customer is often made up of: - ANS ✔✔Champion
Primary Economic Buyer
Influencers, Veto Power
Primary and Secondary Influencers - ANS ✔✔- Bell Cow Customer (Leader of the Consumers)
- Lighthouse Customer
Bose 901 Speaker Example - ANS ✔✔-Viewed their market as one key individual (Critic) and ran an ad to
change his mind about the product
5 ways to win referrals from influencers - ANS ✔✔Build Referral Relationships
Gather a Group of VIPs
Target Professional Reviews
Get Online Referrals
Arm Influencers with Selling Tools
(Kim Gordon - Big Marketing Ideas for Small Budgets)
Consumers with Veto Power - ANS ✔✔IT Department
US Gov't Healthcare
Any time a standard exists
Customer Motivations - ANS ✔✔- Lower costs or reimbursed expense
- Don't get fired for taking risk
- Less work/easier job
- Justify job/look good in front of boss
Product Acquisition Process - ANS ✔✔- A primary goal of a startup is to discover how customers can be
systematically acquired
- The customer acquisition process is key to understanding the lifetime value of a customer
Crawl/Walk/Run Strategy - ANS ✔✔-DBE describes the process designed to discover a sales process that
can be standardized
-Sometimes it is necessary to build a product by working with customer using an inefficient sales strategy
(crawl, then walk) before you can pursue a standardized sales process
Ways to Test Marketing Strategies - ANS ✔✔- Set up a website
- buy ads
- set up a kickstarter campaign
- track analytics
Facebook Marketing - Weinert Center Ex: - ANS ✔✔Primary Goal: Increase the # of UW Students who
visit the website
Secondary Goal: Increase the # of UW students who have heard of the Weinert Center
, '
What is a business model according to DBE? - ANS ✔✔"A framework by which you extract from your
customers some portion of the value your product creates for them" (DBE)
"The rationale of how an organization creates, delivers, and captures value" (Business Model
Generation"
Business Model Canvas by Osterwalder (like MHR 424 Bus. Model) - ANS ✔✔- Focuses on key
components of Business Model
- Hypothesis driven
- Easily changeable (Post-it Notes)
- Can color code different customer segments (9 building blocks)
Using BMC and DBE - ANS ✔✔- The Business Model Canvas is a snapshot that changes over time as you
learn
- DBE is a process that you can follow to learn and refine your BMC
Customer Segment (1st thing) - ANS ✔✔Who you are going to sell to, and what defines that segment of
people
Value Proposition (2nd thing) - ANS ✔✔What is the reason the customer will by the product, what will it
do for them?
Channels - ANS ✔✔How does your customer get your product? (online, app store, retail store, etc.)
Customer Relationship - ANS ✔✔The overall process of building and maintaining profitable customer
relationships by delivering superior customer value and satisfaction (answering questions and solving
problems)
Revenue Streams - ANS ✔✔How do you get paid?
- Best businesses have multiple revenue streams
(EX: Car -- repairs, plus parts needed)
Key Resources - ANS ✔✔What are you really good at?
- What sets you apart from the others
Key Partners - ANS ✔✔-Suppliers and Investors that help your business grow
Cost Structure - ANS ✔✔- What are the most important costs of your business?
- Fixed Costs, Variable Costs, etc. (Labor vs Sales)
Benefits of Using Business Model Canvas - ANS ✔✔- Consistent Logic
- Less likely to miss a key gap
- Easily changes when new learning demands a pivot
- Used to generate financial model
- Easy to use framework means more time to get out of the office and talk with customers
- Has become a bit of an "industry standard" so makes for efficient communication
